Thu. Jun 20th, 2024

Turkey’s Financial Stability Strengthens as Central Bank Reserves Rise

By Haberyaz Jun6,2024

Turkey’s Financial Stability Strengthens as Central Bank Reserves Rise

In a recent statement from Vice President ****, it was announced that Turkey’s financial and macroeconomic stability is strengthening as the country’s reserves continue to increase. According to the announcement, the Central Bank’s gross reserves have risen to $143.6 billion, and net reserves excluding swaps have turned positive for the first time in nearly four years.

Factors such as accelerated international capital inflows, increased export revenues, and reduced domestic demand for foreign currency have expedited the Central Bank’s reserve accumulation process. Vice President Yılmaz highlighted that with increasing confidence, improving risk premiums, decreasing current account deficits, and accelerating external capital inflows, the Central Bank’s reserves are expected to increase further in the upcoming period. He emphasized that these developments will speed up the disinflation process and contribute to economic stability and sustainable growth.

Source: AA

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *